Bobby’s Blog

Own a Technology Business in Virginia? Take Advantage of a Little Known Capital Gains Tax Exemption

Starting and managing a business is challenging, especially in the highly competitive technology sector. You have to ensure your product or service is on the cutting edge, while also juggling regulatory requirements and staying up-to-date with business taxes. Fortunately, the Commonwealth is taking some of the burden off your shoulders through the state tax code. Entrepreneurs and investors who make qualified investments in early-stage technology, biotechnology and energy startups in Virginia through 2020, can seek exemption from paying state income tax on their long-term capital gains throughout the life of the investment, according to the Northern Virginia Technology Council. This exemption was...

Continue reading

Why Advanced Care Planning is Absolutely Critical

It’s a discussion most of us dread - what should happen if we are unable to make decisions about our medical care. This is an issue that arises quite often. If you suddenly suffer a stroke, a heart attack, or other debilitating condition resulting in you being incapacitated, someone will need to step in and decide what to do. This is why advance care planning is so important. It puts you in the driver’s seat for your medical decisions. Advance Care Planning enables you to designate someone (e.g., a close friend, a family member, your spouse, etc.) to make important medical decisions...

Continue reading

Why Your Estate Plan Needs to Include Your Pets

When designing an estate plan, many individuals forget to include provisions for the care of their beloved pets.  Approximately 63% of all households own at least one pet, yet less than 20% of pet owners included their pets in their estate plan. Quite often, we meet with prospective clients that have never been asked by other attorneys about including pets in their plan.  For many people, their pets are considered important members of the family.  Having the pet end up at a shelter or with an uncertain future is a pet owner’s worst nightmare. Planning for the care of your pets...

Continue reading

Concerned About Costly Nursing Homes? “Granny Pods” May Be an Option to Consider

The median annual cost of a private nursing home is over roughly $84,000 per year, according to CNN.com. A 2013 survey by Genworth revealed that the cost of private nursing home care spiked 24 percent in a five-year period (2008 to 2013). Given the exorbitant cost of nursing home care, many people are struggling to figure out what to do with an elderly loved one who is living alone, and shouldn’t be at that stage of their life. Some people may be thinking, “Well, what about a semi-private nursing home where your loved one shares a room?” Unfortunately, this arrangement is...

Continue reading

New Year’s Resolution – Review Your Estate Plan

With a new year comes resolutions. Some people may plan to get into better shape. Some people may plan to get out of credit card debt. But everyone should make a resolution to review their estate planning documents. To help get you started, we put together a brief checklist of topics and issues you and your loved ones need to review in your estate plan. You should make this a yearly habit. That is why, at InSight Law, we have a formal maintenance plan for all of our clients to update their estate plans and make adjustments as events in our their...

Continue reading